(BRK.A), (BRK.B)
BNSF Railway marked a historic achievement in workplace safety in 2023, recording the lowest injury frequency rate in its 175-year history. The company, comprised of 37,000 dedicated employees, operated its extensive 32,500-mile network without a single loss of life and achieved the lowest number of employee injuries ever. Notably, employee injury rates witnessed a significant reduction of over 20 percent, and injury severity decreased by nearly 35 percent, year-over-year, positioning BNSF as an industry leader in safety.
Katie Farmer, the President and CEO of BNSF, expressed pride in the outstanding performance, stating, “Our success in 2023 is a giant leap towards realizing our ultimate safety vision of a workplace free of accidents and injuries. This monumental achievement is a testament to the commitment and passion for safety demonstrated by everyone at BNSF, especially our Operations teams. We extend our gratitude to all our frontline employees, whose dedication to safety made this significant milestone possible.”
This exceptional safety record in 2023 builds upon a groundbreaking Transportation Safety Agreement (TSA) initiated by BNSF in 2022 with its transportation workforce. The TSA has played a crucial role in enhancing collaboration and communication between management and employees, setting a positive precedent for the industry.
Rich O’Connell, SMART-TD General Chairman, emphasized the commitment to safety among the workforce, stating, “Our membership is committed to safety, and having those closest to the work lead this effort is showing positive results.” Rob Cunningham, Brotherhood of Locomotive Engineers and Trainmen (BLET) General Chairman, added, “We take great pride in our dedicated members who prioritize safety in their daily work. The successful collaboration between labor and management, as evidenced by the TSA, stands as a testament to our effective model.”
As BNSF looks ahead to 2024 and beyond, its safety vision remains unwavering – a workplace completely free of accidents and injuries. Matt Igoe, Executive Vice President and COO, commended the people of BNSF for their commitment to safety, stating, “Our commitment and passion for safety set the people of BNSF apart. The strong finish to the year is clear proof of that. A special thanks to everyone who contributed throughout the year to elevate our safety performance to the next level.” The success of BNSF in 2023 not only reflects a dedication to safety but also underscores the effectiveness of collaborative efforts between employees and management in creating a secure and accident-free workplace.
© 2024 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.